Premier African Minerals PLC (LON:PREM) has received payment from the Zimbabwe government to restart production at the RHA tungsten mine, but in local currency not US dollars.
The junior confirmed it has received six million RTGS dollars from the Reserve Bank of Zimbabwe – the RTGS dollar is the country’s sole legal tender.
Premier said it can cover the local costs with the payment, but uncertainty remains over items sourced outside of Zimbabwe and for electricity to power the mine.
“We will re-evaluate how best we can commence with the process of bringing RHA back into production as expeditiously as possible.”